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Log In / Register | Jan 20, 2018

Blockbuster Says No to Buying Circuit City

Circuit City Stores Inc., the big-box electronics retailer with tumbling sales this year, has lost a buyer - Blockbuster Inc. Blockbuster's CEO, James Keyes, has realized the error of his ways and said the $1 billion deal didn't make sense. Stocks jumped nearly 12 percent.

Michael Pachter, an analyst with Wedbush Morgan Securities. "The company has done everything right since Jim Keyes took over, except making this bid. ... Circuit City's business is just plain in trouble."

Read the full story at AP

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